The owner of a famous outdoor brand, donated his company worth 20 billion

Date：2022-09-21 16:16:13

  According to the "New York Times" report on September 14: Outdoor sports brand Patagonia (Patagonia) founder Chouinard recently transferred the ownership of Patagonia company worth 3 billion US dollars to trusts and non-profit organizations, And to ensure that all of its profits (about $100 million a year) are used to fight climate change and protect the world's undeveloped lands.
  According to multiple media reports, Chouinard ranks 1750th on the "2021 Forbes Global Rich List" with a fortune of $1.8 billion. Forbes estimates that Yvon Chouinard was worth $1.2 billion before he relinquished control of the company, but he is no longer a billionaire after that.
  In an interview with The New York Times, Yvon Chouinard said that he was listed as a billionaire by Forbes, which partly contributed to the family's decision to abandon the company. He said being on the rich list "really pisses me off" because he doesn't have $1 billion in the bank and doesn't "drive a Lexus." In 2017, Forbes first included Yvon Chouinard on its rich list based on Patagonia's worth, rather than the cash in his bank account.
However, this does not mean that Yvon Chouinard will quit the company. According to the brand statement, Yvon Chouinard and family remain on the board, running with the board and CEO, overseeing the trust and directing the nonprofit's charitable work.
  In the United States, Patagonia is the largest outdoor brand that no one knows.
Founder Yvon Chouinard is an avid outdoor enthusiast who started out manufacturing rock climbing equipment and founded the Patagonia brand in 1973. The company currently employs more than 2,000 people and has a market capitalization of about $3 billion.
  In its own development, Patagonia has taken the lead in increasing the cost of using organic cotton since the mid-1990s, trying to reduce the environmental damage caused by ordinary cotton cultivation. This move, which may affect profits, has instead increased the sales of cotton products by 25%, and has led to the use of organic cotton by major brands such as Nike and Levi's, which is a win-win for both environmental and economic benefits.
  In the 2021 Axios Harris Poll100 (company reputation ranking), Patagonia is at the top of the list, surpassing Apple (16th), Adidas (49th), Nike (62nd) and other well-known brands.
  In the same year, Patagonia was also included in the list of 29 brands in the first Lawrence Sports for Good Index.
  Patagonia has once again taken a historic step.